70 Passaic Street Active Save Request In-Person Tour Request Virtual Tour
Passaic,NJ 07055
Key Details
Property Type Multi-Family
Sub Type 5+Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24034625
Style 5+Family
Annual Tax Amount $17,925
Property Description
Welcome to this well-maintained 6-unit multifamily building, an outstanding investment opportunity in a prime location. The property features two units on each of the three floors, with each unit offering 2 bedrooms, 1 bathroom, a living room, and an eat-in kitchen. All units have separate utilities and natural gas heating, making management straightforward. The basement adds value with a shared laundry room and a bonus studio apartment complete with a full bathroom and kitchen.This property is currently generating a total annual rental income of $100,128 and is being offered at a 6% cap rate, with rents currently below market value, providing an excellent opportunity for increased revenue.
Location
State NJ
County Passaic
Area Passaic
Exterior
Utilities Available Gas,Munincipal Water,Sewer
Roof Type Flat